Innovation is vital to any business's success. Albeit, competition breeds innovation. Consumers always want the most stylish new product. I think that the way Capitalism has complicated the simple life has spurred big changes to our consumption of scarce resources. Every year, I see new makes and models of different types of products. Some products have drastically changed, while other products have only changed marginally. Why don't those companies which have only marginally changed hold back a little until they develop a product which is substantially better rather than being only marginally better?
"Forced Innovation" is innovation which the company produces which is marginally better than their previous product; and rivals their competition's product. 'Everybody else is pretending to be better so why shouldn't we' comes into place. I think that without a big change in their products, it is not even worth putting in money for the marketing program or for product specification changes, and production changes which do not enhance the product.
New products do not need to come into the market place every year. Too many products are being produced and becoming obsolete everyday in the technology field. New computer equipment is produced everyday while the equipment of yesterday becomes old news. New cars are produced each year with small improvements of added horsepower or a little exterior tweak. Why don't we make it every 3 years that a new product can come onto the stage? Won't that change our consumption of scarce resources and produce less waste?
Just look at the landfills, and think about it...
